The board of directors of China Partytime Culture Holdings Limited hereby announced that Ms. Chen Sheng has resigned as an Executive Director and the Chairlady of the Board and has ceased to be a member of the Nomination Committee of the Company, an Authorized Representative of the Company pursuant to Rule 3.05 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and an Authorized Representative of the Company under Part 16 of the Companies Ordinance, Chapter 622 of the Laws of Hong Kong (collectively referred to as the "Authorized Representatives") with effect from 14 December 2022 in pursuit of her personal career development. The Board hereby further announces that following the resignation of Ms. Chen, Mr. Teng Hao has been appointed as an Executive Director, the Chairman of the Board, a member of the Nomination Committee of the Company and the Authorized Representatives with effect from 14 December 2022. The biographical details of Mr. Teng are set out below: Mr. Teng, aged 46, graduated from Jimei University majoring in finance in 1997 and graduated from the East China College of Politics and Law (the predecessor institution of the East China University of Political Science and Law) majoring in law in 2005.

He has 26 years of experience in financial and tax compliance, administration and management. Mr. Teng has served in various positions, including serving as the Chief of the Fee Collection and Management Division and the Deputy Commissioner of the Taxation Sub-Bureau of the Taxation Bureau of the Jianou City of the State Taxation Administration from 1997 to 2019. He served as the vice president and chief financial officer of Wegoo Holdings Limited from July 2019 to November 2022.